This article originally appeared on Music Business Worldwide.
Independent distribution and label service provider Ditto Music has a new music publishing arm in the works and the firm is looking for Global Head of Publishing to launch the new division.
Ditto’s expansion into publishing follows the creation of its London-headquartered Ditto Management arm in March.
Speaking to MBW, Ditto Music CEO Lee Parsons said that Ditto will “be doing everything a publisher does, from signing acts to collecting royalties all over the world”.
“We’ll also be launching various new tools and services for our own artists and then expanding those out for third parties,” he added.
“OUR PASSION HERE IS DEVELOPING ARTISTS, SO WE’LL BE SIGNING AND DEVELOPING TALENT TO BUILD LONG TERM CAREERS AT DITTO.”LEE PARSONS, DITTO MUSIC CEO
“Our passion here is developing artists, so we’ll be signing and developing talent to build long term careers at Ditto.”
Ditto Music, which has worked with the likes of Ed Sheeran, Stormzy and Sam Smith, has 22 offices across 19 countries (it opened 12 new global offices in 2017 alone).
The company has also recently invested in its own recording studio situated in the company’s new six-floor office building in central London.
“Having more than 20 offices globally and signing content internationally means a lot of neighbouring rights and different royalties that constantly need collecting,” added Parsons.
“It makes sense for us to bring that process in-house and develop this publishing structure as well as providing tools for non-Ditto artists.”
Added Parsons: “There are some companies already out there doing great work and we all want the same thing – transparency. There are still hundreds of millions lost per year through bad reporting which is widely accepted as ‘leakage’.
“There is also a global race for market share right now, which we stay very clear of. I’m not looking to sell Ditto, so my goals are to build a sustainable company that is profitable.”
“There are some companies already out there doing great work and we all want the same thing – transparency. There are still hundreds of millions lost per year through bad reporting which is widely accepted as ‘leakage’.”LEE PARSONS, DITTO MUSIC CEO
Parsons also said that Ditto “could have moved into publishing years ago” but added that the company wasn’t interested in doing so because it felt that it couldn’t “add much to what [was] out there already”.
Added Parsons: “Blockchain however, that is something I am very much interested in.
“When you are dealing with such a huge amount of data, blockchain is the only viable solution for properly managing it and reporting with 100% transparency.
“Blockchain is currently where the internet was in 1994 and adoption won’t happen overnight. But it will happen.
“Supply chain, securitising assets, decentralisation. All of these things are going to change not only the publishing industry, but the most aspects of the music industry. Not to mention our daily lives. Any forward thinking company is planning for that now.”